News

Kula Gold negotiating finance as it prepares to develop gold mine on Woodlark Island

Australian-based Kula Gold says the granting of a mining lease to develop its Woodlark Island Gold Project is a ‘milestone’, for both itself and the Papua New Guinea Government. The next step is to confirm financing for the project, Kula's Chief Executive Officer Stuart Pether tells Business Advantage PNG.
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In brief: Government prepares to relocate Moresby port to Motukea Island, and other business stories

The national government prepares to buy Motukea Port from Curtain Bros, exports of LNG could double in five years and fuel prices fall. Your weekly digest of the latest business news.
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In brief: Papua New Guinea Prime Minister respects court’s decision on arrest warrant and other stories

Prime Minister O'Neill to respect court's decision, Bougainville Copper assesses draft mining bill, and Papua Mining raises exploration funds. Your weekly digest of the latest business news.
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Repercussions from ‘Parakagate’ anti-corruption investigation continue

While the legal and political repercussions arising from Papua New Guinea’s ‘Parakagate’ anti-corruption enquiry are still being worked out in Port Moresby, social order appears to have been maintained so far. However, the controversy may indirectly affect the progress of some significant new legislation, including that required to establish the country’s Sovereign Wealth Fund.
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